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Business, 30.03.2020 21:08 LiliGrey4335

Mr. Jones has deposited his life savings of $70000 in a retirement income plan with a local bank. The bank pays (a) 10%, (b) 11.25%, per year, compounded annually, on such deposits. What is the maximum fixed amount Mr. Bones can withdraw at the end of each year and still have funds last for 15 years

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Mr. Jones has deposited his life savings of $70000 in a retirement income plan with a local bank. Th...
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